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I lived with my brother in Philly who had a awesome condo on the Water Front near Dave and busters and it was affordable. He payed about 150 for it and the condo fees were pretty affordable I guess.. This makes philly look expensive when its really affordable. Another chart just trying to make philly look bad.
I lived with my brother in Philly who had a awesome condo on the Water Front near Dave and busters and it was affordable. He payed about 150 for it and the condo fees were pretty affordable I guess.. This makes philly look expensive when its really affordable. Another chart just trying to make philly look bad.
Huh? These are median prices. Half of houses will be cheaper, half more expensive. I too paid less than the median for my house. My brother paid a whole lot more for his. I wouldn't think a condo near Dave and Busters should be that expensive yet. The Delaware riverfront still needs a ton of development. Philadelphia appears very affordable to me and this seems to allign with reality.
Athough for some reason I did think Philly was even more affordable than Chicago. San Jose seems out of control but is somehow still getting more expensive and I didn't realize Atlanta was that affordable. Agreed it's interesting how much LA has jumped.
Trust me, people aren't paying that price in beautiful Midtown/Downtown area highrise rentals. In almost every city, the "desirable" urban rentals start at $1,500-$2,000 per month. Cheap suburban rentals (and lots of them) in metros such as Atlanta is what drags down the average lease rate. In other words, you'll be commuting 30-40 minutes out from town (or living in the 'hood') in order to find the affordable stuff. Atlanta is by no means alone when it comes to the ups and downs of real estate pricing. It's all about location and you do get what you pay for.
There is no such thing as an average home or rental. Location and condition. Out of personal experience I can give you small communites in AL/GA (not Atlanta) where 500k is a starter home.
Trust me, people aren't paying that price in beautiful Midtown/Downtown area highrise rentals. In almost every city, the "desirable" urban rentals start at $1,500-$2,000 per month. Cheap suburban rentals (and lots of them) in metros such as Atlanta is what drags down the average lease rate. In other words, you'll be commuting 30-40 minutes out from town (or living in the 'hood') in order to find the affordable stuff. Atlanta is by no means alone when it comes to the ups and downs of real estate pricing. It's all about location and you do get what you pay for.
Considering nice rentals are around $1500-2000 30-40 outside the city in the Bay Area Atlanta IS still a bargain.
Considering nice rentals are around $1500-2000 30-40 outside the city in the Bay Area Atlanta IS still a bargain.
True, but the Bay Area has land limitations that cities like Atlanta does not have. That is where your price/demand/availablility differences come into play.
Rule of thumb: Buy Miami, rent in Denver and Seattle.
Cant get much more affordable than Indianapolis. Not to mention a safe clean city to go along with that cheap rent. Guess its no concidence that apartment building in Indianapolis continues to boom right now. especially in Downtown Indianapolis.
However for the 1st post im curious did you use median home price or mean home price? huge difference there.
Cause i watch the local Indianapolis news and just recently an article came out saying the median home price was around 115,000 not 130,000$.
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